The "Hugogasse 8" project is a new construction project of the renowned real estate developer WINEGG in the 11th district of Vienna in the immediate vicinity of the Simmering underground station. The project, which has already received building permission, comprises 50 residential units and 23 parking spaces and has a high pre-utilisation rate of 20%.
A total of 2,500 sqm of weighted usable space including open spaces such as balconies and terraces will be built. The residential units will be built with a special focus on modern and comfortable construction methods. Special attention is paid to the use of high-quality materials.
For the purpose of partial financing, WINEGG Realitäten GmbH intends to take up qualified subordinated loans of a maximum of € 500,000.
The borrower is the land registry owner of the property EZ 2185 KG 01107 Simmering in Hugogasse 8, 1110 Vienna. A total of 50 residential units will be built on a total floor space of around 2,500m² plus open spaces such as terraces and balconies as well as 23 parking spaces. The property has already been acquired, the planning phase has been completed and construction activities will start shortly and are expected to be completed in February 2021. The sale of the newly created apartments at market prices will start in the 4th quarter of 2019.
During the term, the lender will receive an annual distribution of 5.25.
The lender receives its invested capital back after the sale of the apartments. According to the plan, this is to take place after 24 months.
The 11th district, also known as "Simmering", is located at the southern end of Vienna and borders directly on the Danube Canal. Unique to Vienna is the very high proportion of grassland, almost 45%, which is largely used to grow vegetables. Due to the proximity to the Danube Canal and the location on the city limits, many traditional industrial companies such as Siemens, Steyr and others have settled in Simmering. Due to the very good traffic connection via the A4 motorway to the east, Schwechat airport can be reached in a few minutes by car and areas to the south-east, such as Lake Neusiedl, can be reached by a short drive without having to drive through the city centre. Simmering's lifeline is the Simmeringer Hauptstraße, which crosses almost the entire district and connects Simmering with the inner districts of Vienna, offering the residents an excellent range of local suppliers, shopping centres and restaurants.
Simmering is the district where suburbia and big city meet. The historical origins of Simmering can be traced back to the Bronze Age, but it was not until 1605 that Simmering gained economic importance through a brewery, which was one of the most important sources of income for more than three centuries. Hugogasse 8 is located in the immediate vicinity of Simmering Hauptstraße with its countless shops and restaurants. Both the transport connections through the Simmering underground station and the local supply leave nothing to be desired by the residents.
The Simmeringer Hauptstraße runs right across the entire eleventh district and, with countless shops, restaurants and cafés as well as several shopping centres, forms the lifeline of the 11th district. The origins of the Simmeringer Hauptstraße can already be found in the Roman Empire. The Limes road was already used by soldiers to march to Carnuntum. Via the motorway exit Gürtel/Landstraße the Simmeringer Hauptstraße can be reached at its northern end and borders on St. Marx and the Vienna Biocenter. Simmeringer Hauptstraße leads over Enkplatz to the U3 terminus Simmering and ends at the Vienna Central Cemetery.
The Viennese Central Cemetery counts to me nearly 2,5 km² to the biggest cemetery complexes of Europe. Due to the enormous area and the large forest areas the cemetery is also used as a recreation area. Besides the various fauna the Central Cemetery offers a habitat for about 20 deer and other animals like kestrels, badgers and martens. Originally opened in 1874, the Central Cemetery is home to three million buried Viennese, which is considerably more than there are currently in Vienna. Due to the many graves of honour and art nouveau buildings, the Central Cemetery also belongs to the sightseeings of Vienna.
The four former gigantic gas tanks were revitalized around the turn of the millennium and today offer a huge entertainment center as well as an event hall, around 600 apartments and a student residence. The original 6 gas tanks have been considered landmarks of Simmering since they were built in 1896, because with a height of about 70 meters they could be seen from almost everywhere. Before the revitalization, the domed rooms were used for various exhibitions and even offered a unique film set for the James Bond film "The breath of death". For each of the four gasometers, one of the four architects Jean Nouvel, Wolf D. Prix, Manfred Wehdorn and Wilhelm Holzbauer developed an individual concept with village character.
The former pasture area and the topographically rather inconspicuously situated Simmeringer Haide today contributes significantly to the landscape of the 11th district. Since the Simmeringer Haide has been used intensively by farmers for vegetable and grain cultivation, greenhouses extend for kilometres and supply the Viennese and residents of Simmering with fresh vegetables. Thanks to its unique location and atmosphere, the former trading port of Albern is nowadays extensively used for open air events.
|Development Stage||New Construction|
|Track Record||More than € 250 million developed|
|Existing Bank Financing||Yes|
WINEGG stands for architecture, aesthetics, quality, solidity, sustainability and safety. The company thinks long-term and designs top-class quality properties in the best locations, so that future generations can leave more behind.
WINEGG Realitäten GmbH was founded in Vienna in 1998. Since then, the company has made a name for itself as a forward-looking investor, developer and quality-conscious property developer that is widely respected. The company's vision: to keep an eye on reality and yet plan for the long term. So that future generations can also build their lives on a secure foundation.
From the very beginning, one of the company's specialities has been increasing the value of old buildings. Good substance and best location are the selection criteria.
Today, WINEGG has also gained a top position in the field of revitalizing old buildings, loft conversions & new building development. And has extended its commitment not only to Vienna and Austria but also to Germany (including Berlin, Leipzig & Dresden): Numerous properties, both in the area of old building development and in the area of new housing developments, have already been successfully completed.